What is health insurance?

Health insurance is a contract entered between an insured and an insurer, wherein the insurer agrees to pay the insured for health care expenses that might arise due to hospitalization, accident, illness, or disease.

Apnainsurance.com Research Bureau

03 Dec 2007

Health
insurance is a contract entered between a customer (the insured) and an
insurance company (the insurer), wherein the insurer agrees to pay the insured for
health care expenses that might arise due to hospitalization, accident, illness, or
disease. All these expenses are subject to limits defined in the contract. Typically,
the expenses covered are categorized into - hospital room charges,
doctor/surgeon fees, medical tests, medicines and related expenses.